CSPR - m
Certified Specialist Payment Rep (HFMA)
m m m m m m
questions with correct answers
m m m
If mamlesseemismbuildingmupmequitymin mequipmentmbeingmleased,mthemleasemis:
A.mAmcapital mlease.
B.mAn moperatingmlease.
C.mAmnoncancelablemlease.
D.mAmcancelatablemmonthlymleasemagreement.m-mANSWER>>A.mAmcapital mlease.
Contribution mmargin mis:
A.mThemdifferencembetween mmarginal mrevenuemandmthembreak-even mpoint.
B.mThemdifferencembetween mmarginal mrevenuemandmmarginal mcost.
C.mWheremmarginal mrevenuemequalsmmarginal mcost.
D.thempointmwheremfixedmcostmproducesmamprofit.m-
mANSWER>>B.mThemdifference mbetween mmarginal mrevenue mandmmarginal mcost.
Activity-basedmcostingmism-
mANSWER>>A.mAnothermtermmformthemproportional mallocation mmethod
**B.mAmmethodmof mdeterminingmproductmcostsmusingmcostmdriversmormactivitymmeasuresmtha
tmcausemindirectmcostsmtombemincurred
C.mLessmexpensivemtomdeterminemduemtomthemnecessarymdatamcollection
D.mGenerallymconsideredmamlessmaccuratemcostingmmethod
Thembreak-
even mpointmismthemlevel mofmsalesmvolumemof mamproductmproducingmthemexactmamountm
of .
A.mContribution mmargin mneededmtomcovermfixedmcosts
B.mIncremental mcostmneededmtomcovermfixedmcosts
C.mContribution mmargin mneededmtomcovermincremental mcosts
D.mContribution mmargin mneededmtomcovermallmcostsm-
mANSWER>>A.mContribution mmargin mneeded mtomcovermfixedmcosts
Overheadmismamcommon mtermmfor
A.mDirectmCosts
B.mVariablemCosts
C.mFixedmCosts
D.mIndirectmCostsm-mANSWER>>D.mIndirectmCosts
Arrivedmatmbymamgroupmormassociationmof morganizationsmwithmsimilarmcharacteristicsm(formex
ample,mampublishedmrelativemvaluemscale).
A.mPredetermined
B.mNegotiated
C.mCustomizedmstandardsm-mANSWER>>A.mPredetermined
,Basedmon mthemhistoricalmdatamof mthemspecificminstitutionmformwhichmthembudgetmismintendedm
-mANSWER>>A.mPredetermined
**B.mNegotiated
C.mCustomizedmstandards
Basedmon mdetailedmtimemormactivitymstudiesmwithinmamspecificmdepartmentmofmamspecificminst
itution.
A.mPredetermined
B.mNegotiated
C.mCustomizedmstandardsm-mANSWER>>C.mCustomizedmstandards
Which mtypemof mcostmbehaviormvariesmmoremormlessmin mdirectmproportion mtomvolume?m-
mANSWER>>**A.mVariable mcost
B.mFixedmcost
C.mSemi-variablemcost
D.mSemi-fixedmcost
Themwagemvariancemismdeterminedmby:m-
mANSWER>>A.mThem"difference minmthemactual mandmbudgeted mpaidmhours" mtimesmthem"bud
getedmwagemrate."
B.mThem"budgetedmunitsmofmservice"mtimesmthem"budgetedmlabormhoursmpermunitmofmservice"
mtimesmthem"actual maverage mwagemratempermhour."
C.mThemvarianceminmthem"labormhoursmpermunitmof mservice"mtimesmthem"actualmunitsmofmservic
e"mtimesmthem"budgetedmaveragemwagemrate."
**D.mThem"differenceminmthembudgetedmandmactual maveragemwagempermhour"mtimesmt
hem"actual mpaidmhours."
Themhospital mstaffingmformamregularmacutemunitmismanmexamplemof m-mANSWER>>**A.mSemi-
mfixedmormsteppedmvariable mcost
B.mVariablemcost
C.mFixedmcost
D.mAmfixedmcostmpattern
Which mof mthemfollowingmismNOTmamtypemof mexpensemvariance?
A.mPricemVariance
B.mVolumemVariance
C.mEfficiencymVariance
D.mSteppedmVariancem-mANSWER>>D.mSteppedmVariable
When mamhospital'smactualmpatientmcensusmismgreatermthanmbudgeted,mthemmanagementmvi
ewsmthismasmfavorable.mGenerally,mthemeffectmonmthemactualmexpensesmbeingmlessmthanmthe
mbudgeted mamountsmis:m-mANSWER>>**A.mAlsomfavorable
B.mUnfavorable
C.mMostlymfavorable
D.mAmpositivemvolumemvariance
,Which mofmthemfollowingmismnotmonemof mthemcurrentmtrendsmmovingmawaymfrommthemfeemforms
ervicemdeliverympaymentmsystem:m-mANSWER>>A.mMIPS
B.mComprehensivemCaremformJointmReplacementm(CJR)
C.mAccountablemCaremOrganizationsm(ACO)
**D.mResourcemBasedmRelativemValuemSystemm(RBRVS)
Which mtypemof mpaymentmmethodmismintendedmtomcovermall minpatientmservicesmutilizedmform
each mprocedurem(e.g.,mjointmreplacement)mwhilemthembeneficiarymismin mthemhospital?m-
mANSWER>>A.mFee-for-service
B.mPermdiemmrate
**C.mCasemrate
D.mCapitation
Which monemofmthemfollowingmoptionsmismammanagedmcaremproductmthatmismeasymtomevaluate
?m-mANSWER>>A.mCapitation
B.mFeemschedule
C.mCasemrate
**D.mFee-for-service
Healthcaremprovidersmshouldmdevelopmdifferentmmodelingmtoolsmdependingmon
.m-
mANSWER>>**A.mThemreimbursementmmethodmproposed min mthemcontract.
B.mWhethermitmwillmresultmin madditional mbusiness.
C.mCostmestimatesmformeach mscheduledmrate
D.mWhatmthemcostmstructuremwouldmbe
Managedmcaremarrangementsmgenerallymresultmin mproviders:m-
mANSWER>>A.mReceiving,mon maverage,mamhighermlevel mof mreimbursement.
**B.mAssumingmgreatermfinancial mriskmformthemlevel mof mservicesmprovided.
C.mRelaxingmtheirmmanagementmformthemlevel mof mservicesmprovided.
D.mBeingmfairlymandmadequatelymreimbursedmformthemlevel mof mservicesmprovided.
Which moption mismNOTmamgeneral mcategorymof mprovidermexcessmlossminsurance?m-
mANSWER>>A.mPer-Person
B.mAggregate
C.mCarve-Out
**D.mQualitymIndicators
Which moptionmismNOTmamfunctionmofmthemCentersmformMedicaremandmMedicaidmServicesm(C
MS)?m-
mANSWER>>A.mEstablishmentmandmpromulgation mof mclearmpolicymonmeligibilitymformCMS mpr
ograms,mcoveragemandmreimbursementmof mhealthcaremservices,mstandardsmformprovidersm
andmprogrammadministration
B.mAdministration mofmcomprehensivemagreementsmwith mcontractorsmandmstatesmthatmstip
ulatemthemconditionsmundermwhichmCMSmprogramsmaremcarriedmout,mthemperformancemsta
ndardsmthatmmustmbemmetminmtheirmadministration,mandmthemprogrammaticmresultsmthatmar
emtombemachieved
, C.mMonitoringmthemperformancemofmcontractorsmandmstatesminmadministeringmCMSmprogr
amsmconsistentmwithmprogrammandmperformancemstandards,masmwell masmthemdirectmmonit
oringmof mhealthcaremprovidersmtommakemsuremthatmprogrammaticmgoalsmaremachieved
**D.mRegulationmof mfederal mandmstatemlegislationmrelatedmtomlifemandmsafetymissues,mbusine
ssmcompliance,mandmlicensuremrequirements.mRegulatorymEnvironmentmandmCorporatemC
ompliance
Accruedmsalariesmandmpayroll mTaxesm-
mANSWER>>**YesmNo
Whatmismthemsecondmobjectivemof mriskmmanagement?m-
mANSWER>>A.mTomminimizemthemcostmof mfinancing mthemrisk
B.mTomallow mdirectmaccessmthemreinsurancemmarket
NOTm-
mC.mTomestablish mregulatorymrequirementsmthatmmustmbemmetmtomoperate manminsuran
cemcompany
D.mTomminimizemthemestablishmentmof mamsegregatedmcashmaccount,mormtrust,mfrommwhichmc
laimsmarempaid
Whatmismthempurposemof man minvestmentmpolicy?m-
mANSWER>>A.mTomestablish mamframeworkmtommakeminvestmentmdecisionsmandmevaluatemr
esults
B.mTomformmamcushionmtomprotectmcreditorsmif mthemoperatingmenvironmentmweremtomde
teriorate
NOTm-mC.mTommaximizemreturnsmwhilemensuringmthatmtheremismcash mon mhandmformday-to-
daymoperations
D.mTomdefinemhowmthemorganizationmintendsmtommatch mthemmaturitymofmtheminvestmentsmwit
h mthemprojectedmneedmformthemproceeds
Whatmismthempurposemof mthemIRSmFormm990?m-
mANSWER>>**A.mTomprovide minformation mtomthemIRS mandmthempublicmregarding mthemtax-
exemptmorganization'smprograms
B.mTomrequiremrecognition mof mpost-employmentmcostsmon man maccrual mbasis
C.mTomreportmammoremdetailedmbreak-down mof man mindividual'smcompensation
D.mTomrequiremnumerousmdisclosuresmregardingmthemcompensationmarrangementsmformoffi
cers,mdirectors,mtrustees,mandmkeymemployees
Which moption mismfalsemconcerningmreturn mon minvestment?m-
mANSWER>>A.mThemformulamtomcalculate mthemreturnmismincomemplusmrealized mgainsmminu
smrealizedmlosses.
**B.mThemformulamtomcalculatemthemreturnmismlossesmplusmrealizedmgainsmminusmrealizedminc
ome.
C.mThemexpectedmreturn mfromman minvestmentmismcorrelatedmtomthemriskmprofile.
D.mWhilemitmismdifficultmtomquantifymrisk,mitmismeasymtomcalculatemthemreturnmofmanminvestment
Health mormsocial mclubsmduesmormfeesm-
mANSWER>>**YesmNo
UndermHIPAAmandmfederalmregulations,mwhatmismthemdifferencembetweenm"fraud"mandm"abu
se"?m-mANSWER>>A.mTheremismnomdifference.
Certified Specialist Payment Rep (HFMA)
m m m m m m
questions with correct answers
m m m
If mamlesseemismbuildingmupmequitymin mequipmentmbeingmleased,mthemleasemis:
A.mAmcapital mlease.
B.mAn moperatingmlease.
C.mAmnoncancelablemlease.
D.mAmcancelatablemmonthlymleasemagreement.m-mANSWER>>A.mAmcapital mlease.
Contribution mmargin mis:
A.mThemdifferencembetween mmarginal mrevenuemandmthembreak-even mpoint.
B.mThemdifferencembetween mmarginal mrevenuemandmmarginal mcost.
C.mWheremmarginal mrevenuemequalsmmarginal mcost.
D.thempointmwheremfixedmcostmproducesmamprofit.m-
mANSWER>>B.mThemdifference mbetween mmarginal mrevenue mandmmarginal mcost.
Activity-basedmcostingmism-
mANSWER>>A.mAnothermtermmformthemproportional mallocation mmethod
**B.mAmmethodmof mdeterminingmproductmcostsmusingmcostmdriversmormactivitymmeasuresmtha
tmcausemindirectmcostsmtombemincurred
C.mLessmexpensivemtomdeterminemduemtomthemnecessarymdatamcollection
D.mGenerallymconsideredmamlessmaccuratemcostingmmethod
Thembreak-
even mpointmismthemlevel mofmsalesmvolumemof mamproductmproducingmthemexactmamountm
of .
A.mContribution mmargin mneededmtomcovermfixedmcosts
B.mIncremental mcostmneededmtomcovermfixedmcosts
C.mContribution mmargin mneededmtomcovermincremental mcosts
D.mContribution mmargin mneededmtomcovermallmcostsm-
mANSWER>>A.mContribution mmargin mneeded mtomcovermfixedmcosts
Overheadmismamcommon mtermmfor
A.mDirectmCosts
B.mVariablemCosts
C.mFixedmCosts
D.mIndirectmCostsm-mANSWER>>D.mIndirectmCosts
Arrivedmatmbymamgroupmormassociationmof morganizationsmwithmsimilarmcharacteristicsm(formex
ample,mampublishedmrelativemvaluemscale).
A.mPredetermined
B.mNegotiated
C.mCustomizedmstandardsm-mANSWER>>A.mPredetermined
,Basedmon mthemhistoricalmdatamof mthemspecificminstitutionmformwhichmthembudgetmismintendedm
-mANSWER>>A.mPredetermined
**B.mNegotiated
C.mCustomizedmstandards
Basedmon mdetailedmtimemormactivitymstudiesmwithinmamspecificmdepartmentmofmamspecificminst
itution.
A.mPredetermined
B.mNegotiated
C.mCustomizedmstandardsm-mANSWER>>C.mCustomizedmstandards
Which mtypemof mcostmbehaviormvariesmmoremormlessmin mdirectmproportion mtomvolume?m-
mANSWER>>**A.mVariable mcost
B.mFixedmcost
C.mSemi-variablemcost
D.mSemi-fixedmcost
Themwagemvariancemismdeterminedmby:m-
mANSWER>>A.mThem"difference minmthemactual mandmbudgeted mpaidmhours" mtimesmthem"bud
getedmwagemrate."
B.mThem"budgetedmunitsmofmservice"mtimesmthem"budgetedmlabormhoursmpermunitmofmservice"
mtimesmthem"actual maverage mwagemratempermhour."
C.mThemvarianceminmthem"labormhoursmpermunitmof mservice"mtimesmthem"actualmunitsmofmservic
e"mtimesmthem"budgetedmaveragemwagemrate."
**D.mThem"differenceminmthembudgetedmandmactual maveragemwagempermhour"mtimesmt
hem"actual mpaidmhours."
Themhospital mstaffingmformamregularmacutemunitmismanmexamplemof m-mANSWER>>**A.mSemi-
mfixedmormsteppedmvariable mcost
B.mVariablemcost
C.mFixedmcost
D.mAmfixedmcostmpattern
Which mof mthemfollowingmismNOTmamtypemof mexpensemvariance?
A.mPricemVariance
B.mVolumemVariance
C.mEfficiencymVariance
D.mSteppedmVariancem-mANSWER>>D.mSteppedmVariable
When mamhospital'smactualmpatientmcensusmismgreatermthanmbudgeted,mthemmanagementmvi
ewsmthismasmfavorable.mGenerally,mthemeffectmonmthemactualmexpensesmbeingmlessmthanmthe
mbudgeted mamountsmis:m-mANSWER>>**A.mAlsomfavorable
B.mUnfavorable
C.mMostlymfavorable
D.mAmpositivemvolumemvariance
,Which mofmthemfollowingmismnotmonemof mthemcurrentmtrendsmmovingmawaymfrommthemfeemforms
ervicemdeliverympaymentmsystem:m-mANSWER>>A.mMIPS
B.mComprehensivemCaremformJointmReplacementm(CJR)
C.mAccountablemCaremOrganizationsm(ACO)
**D.mResourcemBasedmRelativemValuemSystemm(RBRVS)
Which mtypemof mpaymentmmethodmismintendedmtomcovermall minpatientmservicesmutilizedmform
each mprocedurem(e.g.,mjointmreplacement)mwhilemthembeneficiarymismin mthemhospital?m-
mANSWER>>A.mFee-for-service
B.mPermdiemmrate
**C.mCasemrate
D.mCapitation
Which monemofmthemfollowingmoptionsmismammanagedmcaremproductmthatmismeasymtomevaluate
?m-mANSWER>>A.mCapitation
B.mFeemschedule
C.mCasemrate
**D.mFee-for-service
Healthcaremprovidersmshouldmdevelopmdifferentmmodelingmtoolsmdependingmon
.m-
mANSWER>>**A.mThemreimbursementmmethodmproposed min mthemcontract.
B.mWhethermitmwillmresultmin madditional mbusiness.
C.mCostmestimatesmformeach mscheduledmrate
D.mWhatmthemcostmstructuremwouldmbe
Managedmcaremarrangementsmgenerallymresultmin mproviders:m-
mANSWER>>A.mReceiving,mon maverage,mamhighermlevel mof mreimbursement.
**B.mAssumingmgreatermfinancial mriskmformthemlevel mof mservicesmprovided.
C.mRelaxingmtheirmmanagementmformthemlevel mof mservicesmprovided.
D.mBeingmfairlymandmadequatelymreimbursedmformthemlevel mof mservicesmprovided.
Which moption mismNOTmamgeneral mcategorymof mprovidermexcessmlossminsurance?m-
mANSWER>>A.mPer-Person
B.mAggregate
C.mCarve-Out
**D.mQualitymIndicators
Which moptionmismNOTmamfunctionmofmthemCentersmformMedicaremandmMedicaidmServicesm(C
MS)?m-
mANSWER>>A.mEstablishmentmandmpromulgation mof mclearmpolicymonmeligibilitymformCMS mpr
ograms,mcoveragemandmreimbursementmof mhealthcaremservices,mstandardsmformprovidersm
andmprogrammadministration
B.mAdministration mofmcomprehensivemagreementsmwith mcontractorsmandmstatesmthatmstip
ulatemthemconditionsmundermwhichmCMSmprogramsmaremcarriedmout,mthemperformancemsta
ndardsmthatmmustmbemmetminmtheirmadministration,mandmthemprogrammaticmresultsmthatmar
emtombemachieved
, C.mMonitoringmthemperformancemofmcontractorsmandmstatesminmadministeringmCMSmprogr
amsmconsistentmwithmprogrammandmperformancemstandards,masmwell masmthemdirectmmonit
oringmof mhealthcaremprovidersmtommakemsuremthatmprogrammaticmgoalsmaremachieved
**D.mRegulationmof mfederal mandmstatemlegislationmrelatedmtomlifemandmsafetymissues,mbusine
ssmcompliance,mandmlicensuremrequirements.mRegulatorymEnvironmentmandmCorporatemC
ompliance
Accruedmsalariesmandmpayroll mTaxesm-
mANSWER>>**YesmNo
Whatmismthemsecondmobjectivemof mriskmmanagement?m-
mANSWER>>A.mTomminimizemthemcostmof mfinancing mthemrisk
B.mTomallow mdirectmaccessmthemreinsurancemmarket
NOTm-
mC.mTomestablish mregulatorymrequirementsmthatmmustmbemmetmtomoperate manminsuran
cemcompany
D.mTomminimizemthemestablishmentmof mamsegregatedmcashmaccount,mormtrust,mfrommwhichmc
laimsmarempaid
Whatmismthempurposemof man minvestmentmpolicy?m-
mANSWER>>A.mTomestablish mamframeworkmtommakeminvestmentmdecisionsmandmevaluatemr
esults
B.mTomformmamcushionmtomprotectmcreditorsmif mthemoperatingmenvironmentmweremtomde
teriorate
NOTm-mC.mTommaximizemreturnsmwhilemensuringmthatmtheremismcash mon mhandmformday-to-
daymoperations
D.mTomdefinemhowmthemorganizationmintendsmtommatch mthemmaturitymofmtheminvestmentsmwit
h mthemprojectedmneedmformthemproceeds
Whatmismthempurposemof mthemIRSmFormm990?m-
mANSWER>>**A.mTomprovide minformation mtomthemIRS mandmthempublicmregarding mthemtax-
exemptmorganization'smprograms
B.mTomrequiremrecognition mof mpost-employmentmcostsmon man maccrual mbasis
C.mTomreportmammoremdetailedmbreak-down mof man mindividual'smcompensation
D.mTomrequiremnumerousmdisclosuresmregardingmthemcompensationmarrangementsmformoffi
cers,mdirectors,mtrustees,mandmkeymemployees
Which moption mismfalsemconcerningmreturn mon minvestment?m-
mANSWER>>A.mThemformulamtomcalculate mthemreturnmismincomemplusmrealized mgainsmminu
smrealizedmlosses.
**B.mThemformulamtomcalculatemthemreturnmismlossesmplusmrealizedmgainsmminusmrealizedminc
ome.
C.mThemexpectedmreturn mfromman minvestmentmismcorrelatedmtomthemriskmprofile.
D.mWhilemitmismdifficultmtomquantifymrisk,mitmismeasymtomcalculatemthemreturnmofmanminvestment
Health mormsocial mclubsmduesmormfeesm-
mANSWER>>**YesmNo
UndermHIPAAmandmfederalmregulations,mwhatmismthemdifferencembetweenm"fraud"mandm"abu
se"?m-mANSWER>>A.mTheremismnomdifference.
